Take Stock of Your Subscriptions: Save Up to 30%

Subscriptions have become an integral part of our daily lives: streaming, fitness, phone plans, software, meal kits, and more. However, their accumulation can weigh heavily on your budget. Here's how to take control and save up to 30% on these recurring expenses.

audit

1. Identify All Your Subscriptions: The Essential Audit

To reduce your expenses, the first step is to know precisely all the subscriptions that weigh on your budget. Many of us sign up for services we quickly forget, resulting in invisible but real costs.

Steps to Audit Your Subscriptions:

Review Your Bank Statements:
Download your statements from the last three months and look for recurring expense lines. These include card payments or direct debits associated with subscriptions.
Check Your Emails:
Search for keywords like "subscription," "monthly payment," or "invoice." Many services send reminders or renewal confirmations.
Use a Financial Management App or Tool:
With solutions like Boney, you can easily identify recurring subscriptions. These tools categorize your expenses and automatically detect recurring payments.
List Everything in a Table:
Create a spreadsheet or a detailed list with:
- Subscription name (e.g., Netflix, gym, etc.)
- Monthly or annual amount
- Billing date
- Perceived usefulness level (essential, somewhat useful, unnecessary).

Why This Matters

Once you've identified all your subscriptions, you may discover:

Services you’ve completely forgotten about.
Unnecessary duplicates (e.g., two similar streaming platforms).
Costly subscriptions you barely use.

Concrete Example:
Laura conducted an audit of her subscriptions using a management app. She discovered she was paying €15 per month for software she hadn’t used in a year. By canceling this subscription, she saved €180 over a year!

usage

2. Analyze Usage: Differentiate the Essential From the Superfluous

After identifying your subscriptions, the next step is to assess their actual usefulness. This analysis will help you separate essential services from those that could be canceled or replaced.

How to Evaluate Your Subscriptions:

Conduct a Usage Test:
Track how often you use each service over a week or month. For instance:
- Do you watch Netflix daily or only once a month?
- Is your gym membership regularly used or sitting idle?
Ask the Right Questions:
- Does this subscription bring real value?
- Are there free or cheaper alternatives?
- Can I share this subscription with someone to cut costs?
Identify Seasonal or Temporary Subscriptions:
Some services are only useful at certain times, such as:
- Streaming platforms for specific shows.
- Fitness services heavily used in January but abandoned the rest of the year.
Classify Your Subscriptions Into 3 Categories:
- Essential: Frequently used and critical to your daily life.
- Optional: Useful but replaceable or intermittently used.
- To Cancel: Barely or never used, or not worth the cost.

Concrete Example:

Paul realized he was using two streaming platforms for similar content. He decided to keep the more affordable one and canceled the other, saving €12 per month, or €144 annually.

Bonus Tip:

Use tools like Boney to track your consumption habits. These solutions can alert you to underused or redundant subscriptions, making decision-making easier.

negociation

3. Negotiate Your Subscriptions: Become a Savings Expert

After sorting your subscriptions, it's time to maximize savings by negotiating the rates for the ones you want to keep. Many providers offer discounts or deals to retain their customers.

How to Effectively Negotiate Your Subscriptions:

Contact Customer Service:
Call or email the services you're subscribed to. Explain that you want to cut costs and ask if there are special deals or discounts available.
- Example: "I find the current price too high for my usage. Do you have an offer that might suit me better?"
Play the Cancellation Card:
Companies are often willing to offer discounts when you signal an intention to cancel. For instance, by requesting cancellation, you may receive a counteroffer.
Bundle Your Services:
If a provider offers multiple services, explore combined packages. For example:
- Internet with optional TV channels.
- Family subscriptions for platforms like Spotify or Netflix, which are cheaper per user.
Watch for Seasonal Promotions:
Many companies offer attractive discounts at the end of the year or during holidays. Use these opportunities to renegotiate your rates.
Switch Providers:
If you don’t get a discount, explore alternatives. Many new services offer introductory discounts or free trials to compete with market leaders.

Concrete Example:

Sophie was paying €25 per month for her mobile plan. By calling her provider and mentioning she was considering switching, she got her rate reduced to €15 per month, saving €180 over the year.

Tip:

Plan your negotiations in batches to save time. A single day dedicated to calling providers can generate significant annual savings.

group

4. Bundle Services for Discounted Rates

A simple but often overlooked tip is to bundle your subscriptions to get better rates. Providers encourage bundled packages, which can significantly reduce monthly costs.

How to Bundle Subscriptions Effectively:

Explore Bundled Offers:
Many providers offer packages combining multiple services, such as:
- Internet + Phone + TV.
- Streaming + Music.
- Cloud + Office Software.
  These bundles reduce overall costs while centralizing services.
Opt for Family or Shared Plans:
- Family plans for Spotify or Netflix allow cost-sharing among several users.
- Amazon Prime includes features for multiple members.
  Example: A Spotify Family plan at €15 shared among 5 people costs €3 per user.
Compare Competitors:
Before bundling, analyze the market. Switching providers might be more beneficial.
Centralize Payments:
Use a dedicated card or solution like Boney to group payments and receive alerts for high spending or duplicates.
Beware of Hidden Costs:
Check conditions for:
- Long-term commitments.
- Included services you won’t use.

Concrete Example:

David was paying separately for Netflix (€13), Amazon Prime (€6), and a music platform (€10), totaling €29 per month. By bundling these into a single package, he reduced his costs to €20 per month, saving €108 annually.

Tip:

For bundles that don’t fully meet your needs, contact providers to customize the included services.

free

5. Switch to Free or Pay-As-You-Go Alternatives

Some subscriptions can be replaced with free or on-demand solutions, allowing you to save without compromising comfort. This step involves evaluating available alternatives and adopting more flexible models.

How to Replace Subscriptions with Free or Pay-As-You-Go Options:

Look for Free Alternatives:
- Use free platforms like YouTube for entertainment instead of a streaming subscription.
- Take advantage of public libraries for books, movies, or magazines.
- Some apps offer limited free versions suitable for occasional use.
Opt for Pay-As-You-Go Services:
Instead of monthly subscriptions, choose pay-per-use services.
- Example: Rent specific movies or series on platforms like Google Play or Apple TV instead of maintaining a subscription.
Share or Borrow:
- Share premium subscriptions with a friend or family member (e.g., Spotify or Netflix accounts).
- Borrow gym equipment or software from your network instead of paying for underused subscriptions.
Simplify Your Habits:
Sometimes the best solution is to do without a service entirely. Take a moment to assess whether you can reduce or simplify certain aspects of your routine.

Concrete Example:

Marine was paying €40 per month for online fitness classes. By switching to free YouTube videos and free workout apps, she saved €480 annually without compromising her fitness routine.